Falcon's Beyond Global (NASDAQ:FBYD) Stock Price Up 7.8% - Here's What Happened

Falcon's Beyond Global, Inc. (NASDAQ:FBYD - Get Free Report) shares shot up 7.8% during trading on Thursday . The company traded as high as $6.90 and last traded at $6.77. 3,609 shares were traded during trading, a decline of 79% from the average session volume of 17,536 shares. The stock had previously closed at $6.28.

Falcon's Beyond Global Trading Up 3.7%

The company has a market cap of $955.27 million, a PE ratio of 77.71 and a beta of -1.77. The stock has a 50 day moving average price of $6.36 and a 200 day moving average price of $6.87.

Falcon's Beyond Global (NASDAQ:FBYD - Get Free Report) last posted its earnings results on Thursday, May 15th. The company reported ($0.13) EPS for the quarter. Falcon's Beyond Global had a negative return on equity of 1.43% and a net margin of 18.35%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in FBYD. Wealth Enhancement Advisory Services LLC raised its stake in Falcon's Beyond Global by 147.4% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 41,657 shares of the company's stock worth $363,000 after acquiring an additional 24,816 shares during the last quarter. AllGen Financial Advisors Inc. purchased a new position in shares of Falcon's Beyond Global during the 1st quarter valued at about $209,000. HighTower Advisors LLC purchased a new position in shares of Falcon's Beyond Global during the 1st quarter valued at about $124,000. Northern Trust Corp purchased a new position in shares of Falcon's Beyond Global during the 4th quarter valued at about $89,000. Finally, Cassaday & Co Wealth Management LLC acquired a new position in Falcon's Beyond Global in the 1st quarter worth about $90,000. 38.88% of the stock is currently owned by hedge funds and other institutional investors.

Falcon's Beyond Global Company Profile

Falcon's Beyond Global, Inc is an experiential entertainment development enterprise. It connects the world by bringing stories to life through theme parks, resorts, animation, consumer products, gaming, and movies. The company propels intellectual property activations concurrently across physical and digital experiences through three core business units.